BFLB vs. ZMAY
BFLB (BufferLABS US Equity Dynamic Buffer ETF) and ZMAY (Innovator Equity Defined Protection ETF - 1 Yr May) are both Defined Outcome funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.
Performance
BFLB vs. ZMAY - Performance Comparison
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Returns By Period
In the year-to-date period, BFLB achieves a 6.52% return, which is significantly higher than ZMAY's 2.20% return.
BFLB
- 1D
- -0.08%
- 1M
- 2.53%
- YTD
- 6.52%
- 6M
- 7.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMAY
- 1D
- -0.06%
- 1M
- 0.79%
- YTD
- 2.20%
- 6M
- 2.77%
- 1Y
- 5.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BFLB vs. ZMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BFLB BufferLABS US Equity Dynamic Buffer ETF | 6.52% | 1.73% |
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May | 2.20% | 1.19% |
Correlation
The correlation between BFLB and ZMAY is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025 | 0.69 |
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Return for Risk
BFLB vs. ZMAY — Risk / Return Rank
BFLB
ZMAY
BFLB vs. ZMAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BufferLABS US Equity Dynamic Buffer ETF (BFLB) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BFLB | ZMAY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.71 | 4.24 | -2.53 |
Drawdowns
BFLB vs. ZMAY - Drawdown Comparison
The maximum BFLB drawdown since its inception was -5.14%, which is greater than ZMAY's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for BFLB and ZMAY.
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Drawdown Indicators
| BFLB | ZMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.14% | -0.39% | -4.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.39% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.06% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.77% | -0.05% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.08% | — |
Volatility
BFLB vs. ZMAY - Volatility Comparison
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Volatility by Period
| BFLB | ZMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.76% | 1.45% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 1.52% | +6.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 1.52% | +6.24% |
BFLB vs. ZMAY - Expense Ratio Comparison
Both BFLB and ZMAY have an expense ratio of 0.79%.
Dividends
BFLB vs. ZMAY - Dividend Comparison
Neither BFLB nor ZMAY has paid dividends to shareholders.
Frequently Asked Questions
BFLB and ZMAY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BFLB and ZMAY have the same expense ratio: 0.79% per year.
BFLB and ZMAY have nearly identical dividend yields, around 0.00%.
They also come from different issuers: BufferLABS and Innovator.
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